Eco-Business reports on the world’s biggest climate conference where negotiators and leaders convene at a critical moment for global transformative action to tackle an existential crisis.
As COP29 enters the final stretch, some developing countries are being approached by rich countries to agree on technical assistance and aid instead of promised climate finance, according to civil society organisations.
Rich nations have the “legal and moral obligation” to pay the US$1.3 trillion that developing countries are asking for to endure climate impacts, say advocates. But some Southeast Asian countries may no longer rely on it to adapt to climate change.
In an open letter to the United Nations, a group of concerned climate-watchers called for stronger transparency and disclosure rules to restrict fossil fuel lobbying and host nations that do not support a clean energy transition.